[Lindengardens] Owner Occupancy percentage?

[Chris De Angelis]

Marty, 

I tried to do a refinance in January and can tell you the numbers from the appraisal: 

10 units owner occupied 
7 units rented 

Good luck -- 
- Chris 

----- Original Message ----- 
From: "Martin Marks" <mmmarks at mit.edu> 
To: lindengardens at mit.edu 
Sent: Thursday, March 11, 2010 12:16:26 PM GMT -05:00 US/Canada Eastern 
Subject: [Lindengardens] Owner Occupancy percentage? 

I am refinancing my mortgage, and have run into a major snag, due to this response from Paradigm to my broker. "We are not able to track owner occupancy. Some owners that live at the project use an off-site mailing address. We estimate, but cannot guarantee, that 53% of the project is owner occupied. -Adam Adam B. Williams, Paradigm Partners, Inc." I find it hard to believe that we cannot get a more precise number than this. Do we have a clear record of which units are being rented out now to tenants or not? Why is it so difficult to find out? mmm Martin M. Marks Senior Lecturer MIT, Music and Theater Arts Section, 10-268 77 Massachusetts Ave. Cambridge MA, 02139 Office phone: 617-253-4967 Mobile phone: 617-851-8955 Email: mmmarks at mit.edu 
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